JPMorgan Chase is raising the annual fee for its popular Sapphire Reserve credit card from $550 to $795 and will launch a similarly priced business version, marking a major revamp aimed at premium travelers. The changes include new annual credits—$500 toward JPMorgan’s “The Edit” hotel collection and $300 for exclusive OpenTable reservations, in addition to the existing $300 travel credit. “It’s the culmination of five years of investment that we’ve made across Chase in completely uplifting and repositioning what we mean for premium travelers in the premium-card space,” said Allison Beer, JPMorgan’s head of card and connected commerce. Cardholders will now earn eight points per dollar on Chase Travel, four points on direct flight and hotel bookings, and three points on dining. The overhaul integrates acquisitions like cxLoyalty, The Infatuation, Figg, and Frosch, along with new Chase airport lounges. “This is about having the best-in-class travel assets and an end-to-end travel experience,” Beer added. At JPMorgan’s 2022 investor day, consumer banking chief Marianne Lake said, “Travel is at the center of our card business.” She reaffirmed in 2024 that travel volume had more than doubled since 2021 and remains “a massive opportunity.” Beer noted the card plays a key role in broader customer engagement: “Customers eventually deepen with the rest of the ecosystem, so they start with the Sapphire Reserve card and then they open a self-directed account, or they open a Chase wealth-management account, and they continue to deepen.”